SPAIN has entire towns and villages for sale for less than the price of a London flat. House buying in the UK has hit a ten-year high during the pandemic, meaning a surge in prices. The average cost of a house in the UK is now up by £15,000 – in London this is now […]
SPAIN has entire towns and villages for sale for less than the price of a London flat.
House buying in the UK has hit a ten-year high during the pandemic, meaning a surge in prices.
The average cost of a house in the UK is now up by £15,000 – in London this is now £644,631.
However, families who look across to Europe could get a much better bargain and much more for their money.
In Spain, there are a number of deserted regions which have been left behind by former locals due to younger people leaving the area for the cities for work and opportunities.
Dubbed España vacía, or “empty Spain,” there are more than 3,000 areas in Galicia that have dwindling populations.
It is also common in Italy, which has led to the prevalence of €1 homes to encourage people to move to the area.
In Spain, you can buy entire towns for a bargain, due to them being left abandoned.
In northern Spain, a few hours from Leon, you can buy the hamlet of Xerdiz for just £369,000.
While slightly run down, the sale includes six buildings with the main 1,700sqft building full habitable across the three floors.
There is also an old schoolhouse which is being converted into homes, with other properties and a barn, all with amazing views of the mountains.
The nearby beach is also just 12 miles away.
If you want to splash the cash further, then El Mortorio in Asturias is for sale for £1.6m – less than the cost for a flat in central London.
Less than two hours from Leon, the settlement has 12 buildings, eight of which are holiday homes which have been restored and range from two to four bedrooms.
However, there is more than 32 acres of land and 20 plots which can be used for building to expand the town.
The price has even been dropped by 21 per cent, as it was originally on the market for €2.37m.
Italy’s €1 house scheme has been popular with holidaymakers wanting a second property, with many of the houses ready to be converted.
Small towns across the mainland as well as in Sicily and Sardinia have been part of the scheme in recent years.
This is what you can expect from the €1 homes, including how much work you really have to do.
There are often caveats such as mandatory building deposits and three-year-time frames to have them restored.
Or, you can buy your very own cowboy-themed town in Canada – complete with horse-riding grounds, a saloon and a motel – for $1.25m (£712,000).
